New Year; New Database?

It's time to think about if you're going to want a new database for
Jan? Also, it's time for you to get setup if you're moving to QuickBooks
for the first time for 2014.

There are many advantages to a new database for the new year, including:

Faster data retrieval. A huge database can become unbearably slow.
One client has a database hit the wall in August. Trust me, you don't
want to start a new database midyear if you run payroll or pay taxes by
the calendar year.

The ability to start fresh. A new database gives you the opportunity
to clean up your chart of accounts, customer, vendor, and other lists,
and especially payroll problems. Only lists transfer; no transactions. Modify that last sentence. I can transfer transactions with special software that I've used for clients before, but you'll have to keep your lists the same
in order to move the data. Once data is moved, you can delete any list item
that's not included in one of the transactions.

The security of having only a single year in a single database;
electronic information can become corrupted over time. I've rarely seen a
QB database that lasted longer than 7 years electronically.

The convenience of giving your tax preparer last year's database
while continuing to run your day-to-day business without interruption.

Last year, the IRS purchased QuickBooks. If you get audited, having a
single year in a single database enables you to provide the IRS with
just the information they demand, and nothing more. If you've just been
audited I can get you a single year in a single database but it won't be pretty. The only way to get pretty is to create a new database for the new year.

While there are many advantages to creating a new database for the new year, there are a few disadvantages.

You'll need to hire help to setup a new database.

If you're using Enterprise edition will you be able to print out
reports cross databases for comparison. Otherwise, you'll have to do
that with print-outs, Excel, and Intuit Statement Writer.

Ultimately, the decision to create a new database for the new
year depends on what's best for your business? If you're must moving lists, I can
get you ready for the new database in less than 4 hours, which
leaves time to discuss any other QuickBooks questions or business
concerns.